Guocoland to invest RM12.5b in Sepang City

PETALING JAYA (May 29): GuocoLand (M) Bhd will invest RM12.5 billion to develop Sepang International City — a world class city under the Greater Kuala Lumpur National Key Economic Areas (NKEA).

The project is projected to generate RM1.34 billion contribution to gross national income (GNI) by 2020 and create 4,712 jobs.

Spread across 4,000 acres in the southern corridor of Selangor, it will be one of the largest projects in the country with a gross development value of RM48billion.

This was announced by Prime Minister Datuk Seri Najib Razak at the progress update of The Economic Transformation Programme on Monday May 28.

The seafront developmentabout 8km from Sungai Pelek town is expected to take 20 years to fully developed and would serve as a catalyst foir growth and future development of Sepang and the surrounding areas, said Guocoland managing director Yeow Wai Siaw.

Listed on Bursa Malaysia, Guocoland is the property arm of the Hong Leong Group and known for its projects such as Damansara City in Damansara Heights, Emerald Rawang township and PJ City Corporate hub in Petaling Jaya.